$42 Million Crypto Liquidations in One Hour, Long Positions Take Hit

Crypto traders faced significant losses on Friday, with $42.1 million in liquidations occurring within a one-hour period ending at 10:07 a.m. ET (14:07 UTC). The majority of these losses were attributed to long positions, accounting for approximately 87% of the total.

The highest number of liquidation events was recorded on Binance, with $23.19 million in losses, followed by OKX with $14.28 million and Bybit with $4.62 million. Among individual assets, Bitcoin (BTC) accounted for the largest share at $17.54 million, while Ether (ETH) trailed behind with $11.35 million and XRP recorded $2.94 million.

It's worth noting that these figures are based on combined public liquidation data from Binance, Bybit, and OKX and do not represent a market-wide total.